Quite an interesting news came along on 3rd May through the Wall Street Journal (WSJ) when it was revealed that the social media giant Facebook is finally seeking the investments worth $1 billion. This investment is meant to form its one of the most rumored cryptocurrency Stablecoin.
As far as the present scenario is concerned, Facebook is busy discussing as well as talking to the major payment networks Visa as well as Master Card about the potential support, along with payment processor First Data Corp, reveals the Wall Street Journal(WSJ). WSJ also mentioned within its article that
“Facebook is also talking to e-commerce companies and apps about accepting the coin, and would seek smaller financial investments from those partners, one of the people said,”.
Well as far as this cryptocurrency project of Facebook is concerned, which is also called FB Coin, has been a rumor in the entire crypto market since a year. According to this rumor, it was believed that Facebook wants to provide in-house payments to users.
However as more information trickles down to the outside, it quite clearly appears that various options are still under consideration by executives, including payments via user’s Facebook profile.